operating liquidity available to a business, organization
Considered a part of operating capital
EBIT
Earnings before interest and taxes
EBIT = operating income + Non-operating income
Operating income = Revenue – Operating expenses
operating expenses = Cost of Goods Sold + Selling, general and administrative expenses
Non-operating income = business outside benefit - business o
Analyzing financial statements involves evaluating three characteristics.
- Liquidity
- Profitability
- Solvency
Need for comparative analysis
- Intra-company basis
- Industry averages
- Inter-company basis
Tools of analysis
1.Horizontal analysis evaluates a series of financial statement data over a period of time.
2. Vertical analysis evaluates financial statement dat
OPERATIONS
Manufacturing By Orders Based On Rapid Responding And Capacity
In the industrial complex such as Nokia Center, there are mobile phone components factories and service suppliers. They are ready to supply services and goods at all times and this system support Nokia’s manufacturing by orders. When Nokia take an order, it immediately begins manufacturing after components are delivered
3. 브랜드 파워 (Brandpower)
많은 사람들이 스키리조트 하면 대부분 ‘무주’를 먼저 떠올린다. 무주리조트가 그만큼 유명하고 신뢰를 얻었으며, 그만큼 많은 사람들이 이용하고 있다는 증거이다. 이러한 브랜드 파워를 지녔기 때문에 큰 노력을 기울이지 않아도 관광객이 먼저 무주리조트를 찾게 된다.
team should make a conclusion whether or not its new products should be launched. They also wanted to find out how this problem could happen. They were very wary of this emergence situation not only because of its image for customer, but also if Black Diamond had to discontinue its axe program, all European competitors would step in and copy the technology that they worked so long to perfect.
M&A 목표기업의 가치는 단순히 금전적으로 평가하기 어렵고, 인수경합가능성, 인수후에 예상되는 시너지 효과, 노동, 경영, 정부문제까지 포함한 위험관리등이 종합적으로 고려되어야 한다. 또한 목표기업에 대한 사전조사시에는 영업상 측면과 법률적 측면에서 종합적인 검토가 필요하다.
M&A를 위
operating of Korean Airlines in 2009 is 489,868,592,842, and the amount for 2008 was -118,364,859,292.)
-> KAL managed to generate more cash in 2009. However, considering the fact that most of its cash inflow consists of amortization of intangible assets which make company’s cash flow better, Korean Airlines needs to do better in the future to earn more from their operation.
2. In
operating loss and last year’s bad situation, the company managed to generate more cash in 2009. However, considering the fact that most of its cash inflow consists of amortization of intangible assets which make company’s cash flow better, Korean Airlines needs to do better in the future to earn more from their operation.
Secondly, we need to check the amount of cash flows from investing
Operating Income Margin Calculation
Earnings Before Interest and Tax / Sales
Abercrombie 2006 2007 2008
658,090 / 3,318,158 740,497 / 3,749,847 439,386 / 3,540,276
0.19832 0.19747 0.12411
GAP 2006 2007 2008
1,225 / 15,923 1,315 / 15,763 1,548 / 14,526
0.07693 0.08342 0.10656
Abercrombie has much higher Operating Income Margin ratio than GAP. However the difference between both comp
Earning structure of non-Korean banks
1. HSBC plc (Refer to < reference material 1>)
The HSBC is one of the largest banks in the world and it’s selected as the best global company in the world 2008 by the Forbes1).
1) Net Interest income of HSBC
HSBC’s net interest income on 2007 is 3,854 million pounds2) and, in takes 37 percent of their total operation income. On 2003, it to